Trade Secrets: How to Protect Yours in 2019

Trade Secrets Explained Simply

Trade secrets refer to a set of confidential proprietary information. Either a company or an individual in connection with a business, hold trade secrets.

They include, but are not limited to:

  • Patents,
  • Formulas,
  • Inventions,
  • Processes,
  • Business plans, and
  • Pricing information.

As you can see, this information has the potential to cover a wide variety of categories. They are found in practically every level of a business. This means that there are many opportunities for this information to fall into the wrong hands.

Moreover, this is why we will dive into our next topic. The importance of protecting your information.

How to Protect Your Trade Secrets

Firstly, you must identify what your trade secrets are. After that, you will need to figure out whether they’re actually protectable. That is to say, some information does not qualify. In addition, you will want to set up the proper protection mechanisms. The tasks of these mechanisms will be to ensure that your information remains elusive to devious parties.

Trade Secrets

For example, let’s say that it’s too late to implement protective measures. What should you do if your information is stolen? The first step is to hire an appropriate legal counsel well versed in the court of law. This is essential to determine two things. One is how to get that information back. The second is how to prevent further dissemination of your property.

Ismail Amin

Author Ismail Amin

Ismail’s legal experience encompasses serving Fortune 500 companies, mid-sized privately held companies, and entrepreneurs. He presently serves as Corporate and Litigation Counsel to large and mid-sized businesses throughout California, Nevada, and Texas, as well as General and Personal Counsel to high-profile hospitality operators in California and Nevada. Ismail’s practice emphasizes Business and Intellectual Property matters, with a focus on healthcare, biopharmaceuticals, biotechnology, and hospitality. Ismail has counseled the firm’s healthcare provider clients in acquiring or selling assets while maximizing return and minimizing risk. He has helped clients acquire or sell over $1 billion worth of healthcare-related assets, including hospitals.

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